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for trouble . you got auelax and fuel x is a huge tax . they are using the argument to get better mileage now. maybe you don't need to do so much. it is based on mileage. >> wayne makes a good point about the pvacy issue. transponder tracking my mile it is big brotherish. >> it is and john makes a good argument against it it is a important policy work. it is probably a bad idea. we don't need new tax. the mileage tax could hurt fuel efficnt car it is the and questions of heavy congestionimes and it is unwoable idea and why the obama administration distanced it. >> we have a trust fund in 2013 and that is to go to the roads. it will be negative and needs a fuel tax to fund it aga. >> it is not too long. it will go native in 2015. thgas tax isaised continuously since it was enacted in the 1950s. they are paying 64 cents a gallon in taxings. why is that the only proposal. it why not freedom. there is it public as in every country but here at home la guardia. terrible airport owned by the governme. new mexico and new zealand. airports are tradod the stock exchange and hps the government and servi
fast. if that weren't bad enough, the treasury now says the u.s. will hit the debt ceiling on new year's eve. will this be a game-changer for reaching a deal? >>> plus as if the fiscal cliff wasn't bad enough, now critical ports across the u.s. could be brought to a standstill starting this weekend. we'll explain how a looming union worker strike could sink businesses across the united states. >>> the major sports leagues do a touchdown dance after a federal judge's ruling. their lawsuit to spike sports gambling in new jersey get as crucial green light but new jersey isn't taking it sitting down. details how that state is fighting back and preparing to give vegas a run for its money. even when they say it's not, it's always about money adam: thank you for joining us. we want to look first at the day's market headlines. stocks slid for the 30 straight session. mediocre holiday seas and deadlock over fiscal cliff gave investors little to get excited about. the dow fell 24 points. the so-called fear index or the vix, soaring more than 4%. fiscal cliff concerns pushed the index to the high
for their members. we are looking out for you here at "money." joining us now is chuck woolery, former beloved host. you're not the host of "wheel of fortune.". >> i was at one time. i was the original host when it went on the air. you're not old enough to remember. melissa: that must be it. that's it. all right. >> 1974. melissa: i think of you as the love guy that brought everyone together. "wheel of fortune" is important as well yeah. >> i wear many hats, melissa. melissa: my mistake. i apologize. let's get on the main issue of the day though because i think this is really interesting. aarp is out there once again lobbying and you know telling seniors who are their members what is in their best interests. when you pull things back and look behind the curtain it may not be necessarily what is best for them. we saw one example of this with obamacare when they were lobbying very hard to pass obamacare. but like you have said that was not necessarily in their members best interest. how come? >> well, 93% of the their members didn't want it and they did it anyway because it was money. so it is not ab
of their income. -- love it. we love hearing from you. send your e-mail to us. that is it to night's gerri willis report, thank you for joining us, have a great night, we'll see you tomorrow. lou: good evening, president obama working hard, to be president of all of the 47%. and big business is aligned with the president and his quest to raise taxes on everybody. here is the president today acknowledging that his promise not to raise taxes on middle class will be nul and void on january 1st. the president in his own words confirming that tax hike, coming irrespective of the fiscal cliff outcome. >> taxes are going to go up one way or the other, the key is to make taxes go up and high-end individuals, i am confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. lou: obamacare, guarantees taxes are going up. 5 new obam obamacare-based taxeo kick in next year. a 3.8% surtax on unearned income, and call chains and dividend 18.8%, and a new tax on hospital care, and medical device manufacturersing' taxed 2.3% of the price of their pr
photo sharing site says they're going to sell your pictures without paying you or even telling you. use, are already jumping ship. we'll tell you how this affects you and your money. >>> plus will this be the first republican controlled house ever to raise taxes? business mogul steve forbes will join me in a fox business exclusive to break it all down. >>> the dire warning for you and all of your savings today. hackers are planning to clean out your bank account. the former deputy director of the national security agency is here with all the details so you can hang on to your cash. even when they say it's not, it is always about money. melissa: all right. first let's take a look at the day's market headlines. another day of gains on wall street. stocks soared for the second day in a row. the dow closed up 115 points and all that illusion that washington is getting its act together but progress on the fiscal cliff isn't driving everything higher. gold hit its lowest level in since late august that is confidence there. investors flee from the precious metal as a safe haven appeal fades. g
said, no one has been blameless. joining us now is the fox news middle east analyst. it is great to have you with us. what is your reaction first to her claim that she did not misrepresent and did not, if you will, lie about what happened in benghazi? >> she may be stating that the diversion of national security and the version given to her -- she said she did not commit a live with the american public knowing that it is. on the other hand, there was an assessment made in washington prior to that, the next two hours after the attack, saying clearly that this was a terrorist attack by armed people. in between the two, there is a political decision not to tell the truth as to what happened for political reasons. that is something that the ambassador cannot get out of. it would be in and also looking at everything that has happened before. it would have been in congress, and that is not something that's going to change the decision by congress. lou: i know that in washington dc there is a view strongly held by many. but a parallel view of the universe, although unrelated to the one
: appreciate it. edward tweeted us to say for six years, six years, obama said the bush tax cuts are bad, drop bush's name, and, now, the tax cuts are good. how can this be? it's interesting, isn't it? that's all for us. have a great weekend. we'll see you monday. good night from new york. ♪ neil: sometimes you can sum up a week with a couple words, but this week, it's with this ad. >> cutting hundreds of billions of dollars from medicare and medicaid short change the people who need it the most. if you don't want seniors to come up empty, call your members of congress and tell them don't make a bad deal that cuts our care. neil: if that doesn't tell you real cuts are not coming, neighbor 101 democratic congressman want not to cut social security could drop a hint coming days after the national black cause cues coming further urging all entitlements, not just social security, be left off the cliff talks. you wonder why i fear we had headed for the cliff fast. welcome, everybody, i'm neil cavuto. that's really the deal this week. no deal this week. hence, that if one of the seriously coming b
>> school is fun? >> they teach us in a fun way. john: you look forward to going to school? >> yes. twenty-seven regular government schools get results because they are a government monopoly of almost always do a lousy job. up against the education blob that his job of the hunt teachers' union comment janitor union, bureaucrats they're resist change that is why -- while i was excited charters schools. schools could experiment the parents would see how much better it could be and kids would benefit from the innovation. it is not happening. sometimes. but the center for education reform says the charter movement has gone wrong. what happened is an example. >> my group have put together an application to start a charter school and we have been repeatedly stonewalled 57 because of your own daughter's experience you've got together with people and said we will start a charter. >> the first application was 100 pages could. denied. >> they said there was not a need we had typographical errors in the applicatn. john: wouldn't mcdonald's like to say that to burger king? >> yes. john: you tr
if you cannot catch us live. we will see you back here tomorrow. lou: lou: a vote will be coming to plan sequestration and that vote was passed narrowly, but it did pass. now we're going to have a vote on plan be coming. we will of course be watching that very carefully and bring it to you this evening. >> the president knows i have been able to keep my word and every agreement we have ever made. the fact is his plan is not balanced. and as a result time is running short i will do everything i can to protect americans as much as i can. lou: the company and bill passed moments ago, the bill passing sequestration for one year. moving the defense cuts of a specific rather than arbitrary spending cuts. limiting the amount of money, of course. congressional budget office scoring this bill $218 billion of debts and reductions over the decade beginning january 1. boehner's plan within the approval of americans for tax reform, grover norquist despite the hike in taxes for top earners. saying republicans supporting this bill confirming to their constituents in writing that this bill, the sole pur
is willing to make as part of the balanced approach.use fox news is reporting senior white house official said the signs are making some progress,e but there is still littler movement on the majorferences. substantive differences.back ty. we are watching and all. back to you. >> and now you are. thank you very much. deal weigh more on this deald throughout the next hour, and we are going to hear from bothcapio chambers barasso in ten minutes. the 0*er breaking story, a devastating defeat for one of the most important union strongholds in the country, michigan. michigan's governor, rick snyder, moments ago, signed right to work legislation into law. now, the new law sharply limits union power, something once unthinkable. hundreds of protesters packed inside the capitol building for the vote. trooper on hand in riot gear. michigan, home of the most powerful union in the country, a symbol of union power and dominance for generations. not anymore. workers are no longer to give up part of their paycheck to union dues. now, the unions didn't go down without a fight. literally. take a look at th
assaulted as he tried to protect his staff. nuts. joining us now, thee most senior republican lawmaker who voted today, the house speaker, thank you for being with us today. this is monumental on so many levels. we have a michigan republican controlled legislature right now. is that why you dove into this now while you could? >> tracy, thanks for joining us. this is a monumental night because it's a monumental win for michigan's workers. we kept the focus on the workers, their freedom to choose which organizations to join and what they don't want to join. we know there were clashes. we know people demonstrated inappropriately, but good stories as well. cleanup happening on the lawn by the demonstrators, but the point is throughout it all, we have to keep focus on people going to work every day to literally build our state. tracy: right, because now it's easier to woo companies into michigan to bring jobs; right? the states like south carolina, alabama, texas, have seen a boom in companies coming to work there because, well, it's easier, and it's cheaper african-american they don't have to
only 6,000 prius sold in the first three quarters, leaving us with the number one electric car in the u.s., yeah, you got it, the always controversial chevy volt which does not make this noise. get this, the best selling car has just 13,000 sales. that's the best selling one. that's the one that does really, really good. the car is constantly a disappoint dollars. that is it for next "the willis report." thank you for joining us and i wish you and your families all have a very, very merry christmas. have a great night. lou: good evening, everybody. obama administration's collectible middle east policy. egypt right now on the grip of the worst political crisis since the fall of the president two years ago. and in syria, increasingly desperate measures to counter an insurgency that is slowly but surely pushing closer to control of the capital city of damascus. we will take all that up there with the fox news military analyst, new intelligence report that concludes america's time as the lone superpower is nearing an end. john negroponte joins us to discuss our nation's future as
the show an e-mail to gerri@foxbusiness.com. that's it for tonight's willis report. thanks for joining us. don't forget to dvr the show if you can't catch us live. have a good night, everyone, see you tomorrow. ♪ lou: good evening, everybody. president obama could hardly have chosen a worse place to be today. the president flew to michigan where he blasted the republican-led state legislature and the republican governor for their support of right-to-work legislation. his timing could hardly have been worse. that worker rights legislation will be voted on and given final approval tomorrow and be signed into law by governor rick snyder. michigan becomes the 24th state in the nation to ratify a aw that protects workers from being forced to pay union dues as a condition of their employment. we'll be examining tonight what's happening in michigan and in washington, d.c. with the author of "shadow bosses: how government. employee unions control america and rob taxpayers blind." mallory factor joins us. also tonight, egypt's president, muhammad morsi, ordering the egyptian military to arrest
congressman telling the gobi is looking for any pay to live in amounts of money to do what he used to do for free which includes giving lectures three all i can say is, hollywood better watch out. i would say that the entertainment industry since utility. that is my "2 cents more." and that is it for tonight on "the willis report." thank you for joining us. don't forget to record the show if youcannot catch us live. have a great night and a great weekend. ♪ ♪ neil: sometimes you can sum up a week with a couple words, but this week, it's with this ad. >> cuttingundreds of billions of dollars from medicare and medicaid short change the people who need it the most. if you don't want seniors to come up empty, call your members of congress and tell them don't make a bad deal that cuts our care. neil: if that doesn't tell you real cuts are not coming, neighbor 101 democratic congressman want not to cut social security could drop a hint coming days after the national blackck cause cues comg further urging all entitlements, not st social security, be left off the cliff talks. you wonde
more. thars all for to be the. thank you for joining us, dvr the show if you can't catch us live. have a great night. we'll see you right back here tomorrow. ♪ lou: the obama administration tonight ramping up diplomatic efforts to end seer -- syria's bloody civil war and the fear assad could use chemical weapons against his own people. the military is prepared to use poisen gas bombs, secretary of hillary clinton flew to dublin to hold a meeting with her russian counter part and u.n. enjoy to syria meeting to discuss how they would end the now 21-month long conflict in syria and how to move assad from power. and there's no sign they had to reverse the support, and today, a senior lawmaker says the syria government is now incapable of functioning properly. just before the meeting with the russian foreign minister, secretary clinton insisted that the united states and russia share common goals in the region. >> trying hard to work hard with russia to stop the bloodshed in syria and begin a political transition to a post asad future. the pressure against the regime in and around damascu
joins us later this hour. shibani: maybe the texas will be higher in 2013, but prices at the pump will be lower. some good news and some bad news. david: but first we will tell you what drove the market in today's data download. all three major indices closing to the red for the third day in a row. nine of 1 10 s&p sectors ended lower led by consumer discretionary and materials posted gains but they were the only ones out of the nine or 10 sectors. falling compared to the previous month up one year earlier. case-shiller index rising 4.3% compared to year ago. manufacturing utility slowing down, the federal reserve bank using five points from nine in november. numbers above zero indicating expanding activities but there is a slowing trend that has to be watched. shibani: let's take a look at what happened in the market. market action in the cme. telling us why volatility will be a friend of his environment. we have seen in the last few trading sessions getting near and near is a safer place, a hedge and a plea for a flocked to the dollar in hard-core assets like gold and others. wh
: that's it for tonight's willis report. thanks for joining us, i hope you and your families all have a safe and a very, very merry lou: there is the least three doubles and lawsuits, however, challenging obamacare, including the requirement that workplace health plans cover birth control. pennsylvania, the latest to announce it will not have the obamacare insurance exchange, becoming the 22nd state to set up the exchange, leaving it up to the federal government government to implement exchanges. the president's health care law was so unpopular when the president signed it into law and it remains absolutely that two years later. apparently nancy pelosi was right about the obamacare program, at least when she uttered these now infamous words, calling for passage of the legislation. >> we have to pass the bill so that you can find out what is in it. away from the father of the controversy. lou: is getting rid of obamacare so one option for republicans? we will talk with legal analyst peter johnson on the way forward. also, the worsening political crisis in egypt. splitting egypt between
olympic team will fly to london on the american planes and this makes us richard? >> people don't get that. one could argue the uniforms were not manufactured in china, but grown in the soybean market and i was. they get bter wages we have lower prices. john: if made in america of people would be poor. another myth. overpopulation. asia is four. africa is for. >> the problem is not there are too many people but they don't have fried government's. look at the population data. i hear about nigeria because of of -- overpopulation. they have 174 people per square mile. that is half of the netherlands and they are rich. one-tenth ofongkong and singapore and they are really which. >> the resource is the mind. john: more people more brains. >> more people closer together means more conversations. john: i have been told we're running out ofuel. jimmy carter said that. it would have been within the next decade, 30 years ago. >> that implies a prices should be rising. of decades oil has been getting cheaper and cheaper. even if it does get cheaper people look for a substitute. they keep inventing ne
in the nick of time? senator john hoeven of north dakota joins us to respond. >>> plus, a game-changer for the insurance industry. an auto insurer unveils new policies that charge by the mile, giving a big potential boon to drivers. can it drive the competition off the road? the ceo of metro mile is here to take the wheel. >>> and big beer companies putting beer goggles on their customers. the market for kraft beer is booming and big labels are battling to get a foothold but they may be using crafty tactics to sell you the same flat brew in different packaging. less filling tastes great. even when they say it's not it is always about money adam: before we serve you that beer let's look at the day's market headlines. stocks fell for their fourth straight session. that dour outlook on the fiscal cliff from senator harry reid sent stocks tumbling but they came off the session lows following word the house would reconvene this weekend. the dow lost 18 points. >>> jitters over the fiscal cliff sent the fear index or the vix leaping yet again. it hit the highest level since july. the
'season. makes us feel good to give. that is why there is a concert for storm victims. a bit greedy businesses ted turner did not like that idea. >> there is nothing more to say list. >> good by. >> now there are new ways to give to charity. >> where should you give? tonight. >> what does charity mean to you? the media obsesses what celebrities do and big stars raised more than $30 million for the hurricanes and the victims but this is not charity is most know it but quieter purpose 64% give almost $1,000 to their church the most common form followed by schools and then those meant to help the poor. had you know, they are legitimate? madonna raising money spent $3 million but had nothing to show for it but a nice car and a golf membership. most don't do that but had you know, ? melissa helps to give away $3 billion with rockefeller philanthropy advisers recommend using the profit motive to help jailed teen-agers go straight the profit motive? >> macbeth. >> we also happily accepted nations but goldman sachs has issued a special impact bond and we are the lead recipient. >> this means that go
of the victims children. fox news confirms the three weapons used were legally purchased and legally registered to lanza's mother. joining us now, psychotherapist robby, ludwig, and we talkedded about these killings far too much. in this instance, young, i mean, talking 5-year-old children, makes it all the more tragic p p >> right, and, i mean, sometimes what we see is these spree killers target children because they are an easy mark, and they know it's such a heinous crime. they target people during the workweek. they target them during work hours because th know that they can get the most amount of people during that time. there's always a connection. there's always some straw that broke the camel's back, always some major rejection that this individual can't tolerate, and the way they handle it is by targeting somebody that means something to them so what did the school mean to this particular shooter? what did the children mean? lou: and to kill his mother, that, in itself, and that is the beginning of the spree, as you described p -- described it. >> right, yeah. lou: that led to the murd
to be the highest unemployment in history for two terms it is not careful. he will take us back into recession. if he wants serious negotiations that will sit down and me to some kind of an agreement. we have been down this road before where republicans of given on th taxes. was in the white house with reagan. they promised dollars in cuts. they didn't give us anything. bush went through the same drill when he broke his tax pledge, busch sr. we have had this history before. basically, tell us what you're going to do. there will be a stimulus by fixing he northeast from the storm. add another 50 billion out there on top of the package. and then the audacity of saying, i'm going to raise the debt ceiling whenever i want to. give me permission to do that. it's absolutely absurd. lou: the presidents reached exceing his grasp? >> we will ee. he clearly thinks that he is in a strong osition or you would not be trying this. i think he thinks that the optics work for him. >> but it was ms. mccall's idea in 2011 to give the president the power to raise the debt ceiling by himself. this was not some dmo
for joining us. have a great night. see you tomorrow. ♪ lou: good evening, everybody. i'm lou dobbs. you're looking at union members and supporters of organized labor who gathered oday at the state capitol in lansing, mich. demonstrating against the passage of this historic workers' rights legislation, legislation that, tonight, is law. you would not know it watching the boisterouunion protests, but unions are left intact by this new law. as is, the right to collective bargaining. the big victory for worker rights today, the elimination of the power of both public and private nions to demand and a worse dues from workers and the end of union power to force workers to pay what have been mandatory dues. michigan becomes the 24th state to enact right to work laws after legislation passed the state house of representaves and was sent on to governor rick snyder for his signature. protesters of this new law number some 10,000 at today's demonstrations. most league made up of uaw union of the workers, machinists, teachers, sometimes angry crowds that seem to be taking cues frm their democratic
the fiscal cliff. we want to check u.s. futures to see how investors are anticipating the last trading session of 2012. investors seem to be optimistic that a deal will be struck. you can see the dow futures as well as the s&p 500 futures are looking up. rich, there are several things to discuss. is there any chance of a deal tonight or everybody packed up and gone home? >> everybody has packed up and gone home except for joe biden and mitch mcconnell, they are having multiple conversations and these folks are running point on negotiations, harry reid who was negotiating has left the capital. so those negotiations have died throughout the remainder of today or earlier today. you have the vice president and senate minority leader. the last time they finished the deal the tax deal we got a couple years ago that extended tax rates, cut the social security tax by a couple points. all of that ongoing right now and that is really the last hope we have to get something done before the fiscal cliff. >> does the minority leader and the senate, do they concur with the house of representatives. b
looking for a job myself. cheryl: construction, there was a loss of 20,000. most of us expected a little bit of a game and that ector. >> maybe it will take a little bit longer to give up. my brother is still out of his house. they cannot get anyone to do work on it yet. cheryl: let's go over to the cme. i know that metals has been a big focus for a lot of traders today. what are you watching? >> just the price action in gold. it really gives the feedback. people, you know, maybe a risk on trade. it jumps back to the 17th 04 daily highs. that makes me believe i want to belong before the meeting and at the end of the year where we can hit that 1750 range. cheryl: very interesting. let's head over to the imax. i want to talk about a move that we are seeing in oil. it looks like some bearish signs for oil, in particular, when it comes to terms of supply. >> i think we get to 85 and then rebounds and get back up to the 88-89 level. the fiscal cliff talks not going anywhere yet. during the next two weeks we will start to see some positive remarks. one thing that is very interesting, heat and
announcer ] with stamps.com, you can print real u.s. stage for all your letters and packages. it gives you the exact amount of postage youeed the instant you ne it. can you print only stas? no. first class. priority mai certified. international. and the mailman picks it up. i don't leave the shop anymore. [ male announcer ] get a 4-week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again. >> monday, december 3rd he and hold on to your wallet. the tax man is coming and he wants to tax everything. there's a long list of everything where the left wants to raise the tax take as of now, monday morning, centers on tax hikes, not spending cuts and certainly not entitlement reform. first to secretary geithner to him and the president, it's all about pushing the republicans to accept tax hikes. >> you know, i can't promise that. that's a decision that lies in the hands of republicans that are now opposing increase in tax rates. if they recognize the reality that we can't afford to extend those tax rates then we have the basis f
taxes, not how much to cut spending. shld that worry us? it's a deal so disportioned in raising taxes and not cutting spending, what then? a lot of pressure to keep the gravy train running. what if it runs unabated? the unions who legislated the prident remind us every day in ads you owe us, mr. president. cut to the chase. no gutno glory, for now. the risk of a bad deal over no deal. john, what do you think of that? >> well, the democrats, neil, obviously, are not interested in cutting at all. they hold entitlements out, even though they are completely broke, between medicare, medicaid, and social security. there's a hundred trillion dollars in unfunded entitlement liabilities. tax the rich a 100% for the next hundred years. they are intent on eserving them, extending them, and creating them, making them larger meang bigger bills and government control. neil: can't they throw a bone to republicans, offer you at the gate, $800 billion in tax hikes? couldn't you throw it bac at them, first thing offered, doubling the tax hikes, $1.6 trillion. a clumsy start from t get-go, but i don't s
got it? yes. rates for us and them -- now that's progressive. call or click today. happy holidays. have a good one. ♪ lou: good evening. this beakers failure to win republican support in the house for his plan the proposal on the fiscal cliff has embarrassed the speaker, but the speaker's failure means a solution to the fiscal cliff is, if they're going to be one, now resting squarely upon president obama. arsine to be vacationing president alone cannot propose gislation that wins majority support in both the house and senate, and the decision to go over the fiscal cliff now depends on his ability to successfully negotiate and to forge a compromise that appeals to both republicans and the far left in mr. obama's party. the president metwith senate majority leader harry reid this afternoon and talked with speaker boehner to begin anew that effort to reach compromise. >> averting this middle-class tax hike is not a democratic responsibility or republican responsibility. with their foes the american people have determined that governing is a shared responsibility between both parti
layaway accounts for families that can use the help. it is a trend sweeping the nation. as we talked about earlier, often bringing up the best in people, and super storm sandy was no exception. here is another example. michael of brooklyn, check this out, every day he is treading his death in his red suit with his red cent delivering presents to boys and girls. he gets requests from kids and has been blessed with a huge influx of the nation's. michael johnson the qualifies for the nice list, and i'm thankful they're out there. that's my "2 cents more." here is how you vote in on the poll question we asked on gerriwillis.com with the emphasis this holiday season, thanksgiving. merry christmas. happy holidays. have a good one. ♪ lou: good evening. this beakers failure to win republican support in the house for his plan the proposal on the fiscal cliff has embarrassed the speaker, but the speaker's failure means a solution to the fiscal cliff is, if they're going to be one, now resting squarely upon president obama. arsine to be vacationing president alone cannot propose legisl
willis report." don't forget to dvr the show if you cannot catch us live. we will see you back here tomorrow. lou: good evening, everybody. we're bringing you the latest on the obama administration shifting explanations about the benghazi terrorist attacks. among our guests, middle east expert, also the obama administration gearing up to unleash dozens of new job killing regulations in the presidents second term. a live report on one of the agencies issuing many of those rules, environmental protection agency. and the author of the brand-new book, the five cohost joins us tonight. we begin with a political fallout of another tragedy, september 11 murder of fourwe americans in benghazi. susan rice yesterday withdrew her name from consideration too be secretary of state. the move comes after weeks of criticism over comments rice made regarding the attacks in benghazi in an interview with williams, she was asked if she was blameless for the controversy. thi speak i don't think anybody is ever fully blame, but i didn't do anything wrong, did not mislead, did not misrepresent, i did the
. the only have 2 days separate in the u.s. for more than $500 billion in x hikes. while both sides say the lines of communicationre open. getting a deal to avert the fiscalliff, president made it ry clear he is holding the line on hiking taxes on the top 2% of earners. customizing a little bit with republicans. ining us, ter barnes. what exactly ihe willing to compromise on? >> on the big item, the big kahuna. increasingaxes on families earning more than $2,000 per year story leaving the door open to a compromise on higher tax rates, higher rates. when anas repea ask repeatedly s demanding thtop tes return to the clinton administration in and the top rate was 39.6, he does not say yes, have to have that to get a deal. but hes not backing f his demandrates up by some amount of wealthier falies so the buzz is he might settle or comprose forometng in between like 37%. there is speculation the prident might compromisen the cut off my degreand a higher threshold by 500,000 per year befe higher rates wouldld kick in. in a speech in detroit the presidt extended a little olive branch republan
declining 12.3%. liz: because of the chicago mercantile exchange. a buying opportunity. and michael tells us why he expects double-digit earnings growth in the new year in what that'll do for equities. jerry leavy at the cme. another was some erosion of the last couple of minutes, the last hour or two. headlines from president obama, john boehner. is this market a little overbought going at the end of the year? >> for my technical perspective, you're absolutely right. they have eclipsed the upper end, and overbought situation. from my perspective and my colleagues, we are shocked trying to figure out the market moving higher. a lot of it is trying to figure out, we know a deal will get done, the real question is what are the ramifications of the deal and how will that affect earnings. as a guy who follows earnings very closely, we see that the drop year-over-year. it was from government. a noted state tax receipts are down adjusted for inflation 1% from 2,082,012. earnings are down on the top line, where does the bigger earnings growth come from? david: we have manufacturing coming in saying
weeks before u.s. falls off the fiscal cliff, speaker john bain ser slamming the brakes on any hopes a deal is coming soon, making it clear both sides have differences. second in command, eric cantor warning members n to make any plan for holidays, and kevin brady of texas, vice chairman of joint economic committee, thank you, are we still that far apart? >> you know we are. i started optimistic to get this done before the holidays, but, i don't feel that way, it seems to me the decision has been made, perhaps by white house to take us off this fiscal cliff. i think this is irresponsible to do it we're ready to work out a reasonable sound solution but i do not see that coming from the other side right now. tracy: is it because there is so much going on behind scenes. they think there is a lot of secret wheeling and dealing with john boehner and the president do you agree? >> i do not, i think he -- they have been sporadic talks, i know speaker boehner has been frustrated with how slow the responses have been. again, you know, not just tax rates it is authentic spending cuts, if we do
and materials were this week's top performing sectors and consumer staples and telecom land. demand for u.s. goods climbing for the sixth time rising zero.7% last month, after 1.1% gain in october. orders for goods excluding aircraft excluding increase for the sixth straight month jumping to.7%. and in december, potentially higher taxes and consumer sentiment index calling -- 72.92.seven in november. liz: we have to mulholland in the pits of the cme and stephen sacks telling us the best place to put our money along with john buckingham who tells us why he is not worried about the fiscal cliff, or i coined this one, cliffmaca. i am not getting a courtesy laugh from to mulholland. tell me what the pits were like, david has mentioned last night neil cavuto was right here, saying there is not going to be a vote because there's so much infighting with republicans, futures were plummeting. this could have been a much uglier day but what happened? >> it was the global trading overnight and opened up. the volume was fairly light but the news was a shock so we got a steep drop. barista lot error of
. i've won't add my voice tonight to those who say mr. obama actually wants to take us over the cliff. it is my view that not enough has been made by the national median of the fact that it will be the president's decision and his alone that we all go cliff diving if, indeed, we are to go cliff diving. it is a decision that is cleerly , unequivocally, and unreservedly his to make. president obama has created the condition that must be met. to avoid the clothes and the dive. only he can judge whether his condition is reasonable and whether it has been reasonably met. the republican congressional leaders are at best supporting opposing players in the obama drama. we will take all of this up here tonight with leading republicans and presidential ask brent senator rand paul, a former congressman who has been to the fiscal prosodist, the chairman of the house ways and means committee and the average level conservative author and columnist mark stein. also tonight, we report on the nato dispatch of patriot missiles to turkey. concerns over serious chemical weapons. egypt's new is dictators
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